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Was just on his website looking at syndicates and I wonder if anyone here is involved and if so any feedback would be well appreciated.
Hello,
I think you have asked this question before..
If you wih to sell the attributes of syndication, there is nowt wrong with it, but somehow come your POST 32 you will have found a syndicate and sell it to us..
If this is a cynical post I am sorry, but you may have noticed, I ain’t swearing
regards,
doyley
I have only recently joined this forum and to answer your question, no I haven’t posted this before.
I am relatively new to racing but have developed a deep passion for the sport and in order to take this to the next level I was looknig into syndicates. I happened to stumble into Mr Eddery’s website and was intrigued.
I was just looking for info or feedback, nothing more.
Hello,
OK, let you off, plus you are very well dressed tonite, he said rather sheepishly. Beware of Eddery I was actually in a bar when he got turned upside down for not stopping a horse…many years ago..
Let me put you in the full picture, it costs £300.00 a week to keep a horse, whether it be Arkle or Qiuxall Crossatt…
Seriously, it will cost you about £60.00 a month to be a proud 543rd owner , consider your investment, ,, bet a £5.00 double every week??
I have been lucky in my life to be involved in racing, but most of todays "opportunities" are, as such in 2007, scams…
If you consider a syndicate is your only option to join horse ownership, well go ahead, but wait until you have worked hard enough, or lucky enough to come across some money, whereby, yoiu can have a true ownership of something that you can call your own!
regards,
doyley
My advice to you would be to find a group of like minded individuals, preferably friends and form your own syndicate. Set it up as a Racing Club with your own constitution, Chairman, Secretary, Treasurer. The Club owns the horse. This way when a member(s) gets impatient when the horse hasn’t won a G1 after 3 starts and wants to get out because "that horse is a f******** donkey" he can leave the club but holds no claim to any part of the horse because it is owned by the club.
If you are thinking of buying into a syndicate run by a trainer it is easy to find out the purchase price of the horse. Some simple maths will show you the considerable mark up, in fairness though the trainer is trying to make a living etc. etc.
A Racing Club could instead employ an expert to buy their horse for them. I’m sure there would be plenty of forumites on here well positioned to advise you where to look for such experts.
I was involved in a syndicate run in this way for about 5 years. The membership fluxuated between 13 and 21 in my time. We owned two horses at different times, indeed the club had already owned a horse prior to my membership with which they had alot of success. The horses I was involved with had many injuries and 1 win. I have since left the club because I am no longer living in the Dublin area where the club is based but I would recomend this sort of venture. It’s a cheap(er) way into horse ownership with the bills(of which there will be many) spread between as many people as the club has members.
I’m sure I have a copy of the club’s constitution in the house here some where and if you would like a look at it I could get it to you some way.
Best of luck with which ever route you take into ownership, you’ll need it. Great fun though.
Dermot H.This way when a member(s) gets impatient when the horse hasn’t won a G1 after 3 starts and wants to get out because "that horse is a f******** donkey" he can leave the club but holds no claim to any part of the horse because it is owned by the club.
Heffo..if the horse is a donkey then he won’t be worth anything anyway. If people are leaving the syndicate, who is going to pay the training fees, vets bills and all the other expenses associated with owning a racehorse ?Do existing members pay more ? I can’t have that. At least with an organised syndicate, you pay one fee and that’s the end of it. No hiddens.
Dermot,
Thanx for the info. Much appreciated.
I’d love to have a look at the constitution just to get a good idea of what’s involved. I could PM you my e-mail address and we can arrange that way.
Let me know if this suits.
Jonny
BOFA, why not instigate a TRF syndicate yourself and have a vote by members which trainer to approach? As has been said you have to careful regarding this as some have a massive mark up when there should be none. I was amazed at the mark up from one northern trainer even though he is doing quite well
To be honest Yeats, as I’m reltatively new to racing this thread is more a fact finding mission to begin with but who knows where it may lead!!
Thanx for the info
.
JonnyBSB you missed my point about the "donkey" quote. What I’m trying to point out is that no matter how good or bad the horse is there will be some fool who will not be happy. Maybe because he doesn’t understand the pitfalls and setbacks you can encounter when owning a horse in training.
The way the financial side of that club is run is very simple with no ‘hidden’ costs. The club sets up a bank account with all members paying in the same, agreed upon standing order each month. The S.O would have to be sufficient to cover the training fees, including entries, vets etc.
To achieve a realistic sum with which to purchase a horse at a sales the members could pay a one off sum or let the account just build up to a target amount.
The role of Chairman, Secretary etc. are voluntary and receive no remuneration for performing the tasks involved.
With the club owning the horse the members who want to hold onto the horse to RACE him, which remember is the reason the horse was purchased and the reason members joined in the first place, are protected.
The Club I was a member of is called "Total Recall Racing Club". There is also another club run in the exact manner in the same work place, their constitution is based exactly on TRRC, called "Mothership Racing Club". This club have had huge success with their ‘Pearse Hurdle’ winner ‘Studmaster’ trained by Jessie Harrington. I know, I know, I joined the wrong one.
BOFA you can pm me your email details but if I can’t find the constitution I will be able to get a copy of it, just may take a little bit of time that’s all.
Also it must be pointed out to prospective members that ownership is for the "Long Haul".BOFA,
you might want to look at the BHB ownership and co-ownership info packs(with outline partnership agreement):
http://www.britishhorseracing.com/ownin … .1.3.7.asp
some of the more convoluted co-ownership structures are needed to qualify for the VAT scheme (info pack on that too should you get sufficiently heavily involved).
best regards
wit
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